Baxter International (NYSE:BAX) Updates Q4 Earnings Guidance

Baxter International (NYSE:BAX) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.77-$0.81 for the period, compared to the consensus earnings per share estimate of $0.85. Baxter International also updated its FY 2024 guidance to 2.900-2.940 EPS.

Baxter International Stock Performance

Shares of BAX opened at $34.64 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 1.22 and a beta of 0.60. The stock has a 50 day moving average of $37.39 and a 200 day moving average of $36.12. Baxter International has a 12 month low of $32.48 and a 12 month high of $44.01.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, sell-side analysts forecast that Baxter International will post 2.96 earnings per share for the current year.

Analyst Ratings Changes

BAX has been the subject of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. Wells Fargo & Company decreased their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Citigroup increased their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.20.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.